Nokia says profit rose 44 percent

Nokia Oyj, the world's biggest maker of mobile phones, said fourth-quarter profit increased 44 percent as it took market share and shipments rose to a record.

Business International

European stocks fall on Trichet comments

European stocks declined after European Central Bank President Jean-Claude Trichet said he's committed to fighting inflation, damping optimism that borrowing costs may drop anytime soon.

Ford may say Q4 loss narrowed

Ford Motor Co, the automaker that lost a record $12.6 billion in 2006, may report a narrower fourth-quarter loss after Chief Executive Officer Alan Mulally closed plants and cut jobs in his first full year on the job.

IN BRIEF (Page 17)

Business International

European stocks rally on Fed cut

European stocks rose after the US Federal Reserve cut interest rates in an emergency move to help thwart recession. Barclays Plc and BNP Paribas SA led gains by banks.

US economy may be near tipping point

The US economy may be "one shock" away from a recession, Lehman Brothers Inc said, pointing to the global slump in equity markets as a possible "tipping point".

Dollar declines against euro

The dollar fell sharply against the euro yesterday after the Federal Reserve unexpectedly slashed its benchmark overnight lending rate by 75 basis points in a bid to allay market fears about a US recession.

Commodities sold to cover losses

Crude oil fell to a six-week low and copper erased most of this year's gain as investors sold commodities to cover losses in equity markets and on concern that slower global growth will curb demand for raw materials.

EU concerned over impact of market slump

European finance ministers said a global stock-market slump and an economic slowdown in the United States threaten to slow growth in Europe more than forecast.

IN BRIEF (Page 17)